People forget that the Bush tax cuts were justified to the public on the basis of projected budget surpluses. What on earth was the government going to do with all that excess cash?! Pay down the debt? Hah!
It really doesn't matter to you if the oil is all going to be exported, or that the pipeline for tar sand oil is far more dangerous then a normal crude line, or that it really won't lower prices for us a nickle either. What matters is that global big oil companies want it, so it must be good for us.....somehow. If we all think like that we won't find another source of energy until we use every expensive drop thay can squeeze out of the ground and US.
Weekly U.S. Exports of Finished Motor Gasoline (Thousand Barrels per Day)
Here's the weekly import report for gasoline:
Weekly U.S. Imports of Finished Motor Gasoline (Thousand Barrels per Day)
The gasoline export report only goes back to the 1st week of Jun, 2010, where we exported 155,000 barrels per day. In fact, we exported the same amount for 10 straight weeks and who knows what we exported before the report begins.
Once the Keystone pipeline was completed and supplying those refineries in the plains, our exports increased. On the 2nd, 3rd and 4th week of Jan, 2012, we exported 626,000 barrels per day of gasoline.
It used to be those gulf refineries supplied the plains area via the Mississippi and now they are exporting the gasoline to the Carribean market. The Keystone Pipeline only has a Maximum discharge of 0.59 Mbbl/d and you will notice it was routed through the oil discoveries in North Dakota and across the Canadian border.
The Keystone XL Pipeline has two phases:
Source: Keystone Pipeline - Wikipedia, the free encyclopediaPhase 3
This phase, known as Cushing MarketLink, is part of the Keystone XL pipeline. This proposed phase would start from Cushing, Oklahoma where domestic oil would be added to the pipeline, then it would expand 435 miles (700 km) to a delivery point near terminals in Nederland, Texas to serve the Port Arthur, Texas marketplace. Also proposed is an approximate 47 miles (76 km) previous pipeline to transport crude oil from the pipeline in Liberty County, Texas to the Houston, Texas area.
Domestic oil producers in the USA are pushing for this phase so the glut of oil can be distributed out of the large oil tank farms and distribution center in Cushing, Oklahoma. On November 16, 2011, Enbridge announced it is buying ConocoPhillips' 50% interest in the Seaway pipeline that flows from the Gulf of Mexico to the Cushing hub. In cooperation with Enterprise Products Partners LP it plans to reverse the Seaway pipeline so that an oversupply of oil at Cushing could reach the Gulf. This project will replace the earlier proposed alternative Wrangler pipeline project from Cushing to the Gulf Coast. However, according to industries, the Seaway line alone is not enough for oil transportation to the Gulf Coast.
This phase is part of the Keystone XL pipeline and would start from the same area in Alberta, Canada as the main pipeline. The Canadian section would consist of 529 kilometres (329 mi) of new pipeline. It would enter the United States at Morgan, Montana and travel through Baker, Montana where domestic oil would be added to the pipeline, then it would travel through South Dakota and Nebraska, where it would join the existing Keystone pipelines at Steele City, Nebraska. This phase has generated the greatest controversy because of its routing over the top of the Ogallala Aquifer in Nebraska.
Now, they want to take a direct route and not follow the old route.
In my opinion, the oil companies are taking the Carribean market away from Venezuela crude and it's obvious, they are already at or near the capacity of the existing Keystone Pipeline. There are other pipeline proposals to relieve the oil glut in Cushing, Oklahoma, but the interest is to add more Canadian tar sands to the gulf refineries. These pipelines don't have the capacity to supply enough exports to drive down worldwide crude prices, but they could hurt the Venezuelan market.
Why the hell do you think the State Department declared that a new review of the pipeline was needed ????? The State Department had already approved the pipeline route though the Sand Hills area !!! Do you also not believe the State Department ????
The ignorance of some posts in astounding.............and THAT'S A FACT !
I think, and I believe most Americans agree, that the more oil on the market, the better for all of us. Obama will be hammered on this for the next 10 months.